In accordance with Coinotag, Shiba Inu (SHIB) is experiencing a potential supply shock driven by a 2,000% surge in burn rates over seven days, a 6.79% decline in exchange reserves, and strong buyer absorption at key demand zones. On-chain data from CryptoQuant shows declining exchange reserves, indicating accumulation and reduced selling pressure, while spot taker CVD highlights consistent buyer dominance. RSI recovery near 39 suggests a possible bullish shift, with price near a potential breakout point.
Shiba Inu Supply Shock Gains Momentum as Exchange Reserves Drop 6.79%
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